Dah Sing boss justifies minibond sales

Staff at Dah Sing Bank were still selling Lehman Brothers minibonds in the weeks leading up to the Wall Street giant's collapse in September 2008. Testifying before a Legislative Council subcommittee investigating the minibond debacle, the bank's managing director and chief executive, Derek Wong Hon-hing, said the decision was made because the minibonds had a Grade A rating. In hindsight a different decision could have been made, he said.